Van Dyck Law, LLC is a full service Estate Planning & Elder Law practice. They write about comprehensive planning in the areas of wills, trusts, powers of attorney, medical directives, Elder Law and probate & estate administration.

Campbell's will left his estate to Kimberly, his wife of 34 years, and five of his eight adult children. However, he omitted three children from prior marriages—William Campbell, Kelli Campbell and Wesley Campbell.

The three siblings agreed to dismiss their fight for a portion of their father's estate. Their filing in Davidson County Probate Court didn’t provide any details. The three had contested the validity of the 2006 will, bringing into question their late father's capacity.

The legal dispute involving Glen Campbell's widow versus three of his children has delayed the final resolution of the singer's final affairs, including the question of who has the rights to future royalties on his music.

Campbell was known for songs such as "Gentle On My Mind," "Galveston," "Wichita Lineman" and "Rhinestone Cowboy." However, he was not the composer of any of his hits.

Kimberly Campbell issued a statement through her legal counsel that said she was glad to put the matter behind her. "The filing of a will contest last January came as a shock to me," the statement said. "There was never any merit to these claims.”

"I am pleased to finally put this difficult experience behind me, so that I may focus on my family, my continued mission to educate, destigmatize and raise awareness for Alzheimer's disease—and to honor my husband and his amazing music legacy."

However, Kimberly's statement noted that there was no settlement made with the adult children, and the attorneys for the three adult children contesting Campbell's will could not immediately be reached.

Unofficial estimates initially placed the value of the Campbell estate in the millions, but the more recent estimates provided to the probate court listed an estimated value of $420,221. This figure does not include the future royalties from Campbell's music.

12/14/2018

“Being left out of a will, is not a situation most people want to be in. However, sometimes when a will comes to light, its contents are unexpected. They can exclude those who assumed they would be included. If you are left out of a will, there are some time-sensitive steps you should take to at least clarify what has happened, and perhaps contest it.”

In most will contest cases, you are required to show coercion, diminished mental capacity or outright fraud to have a will's terms dismissed, according to Investopedia’s article, “What To Do When You're Left Out Of A Will.”

Before making a federal case out of it, cool down for a few days and think things through. If you aren’t a family member and were never named in a previous will, you can’t contest the will. If the deceased talked to you about an inheritance before, write down as much as you can remember and estimate the dollar value (whether in money or possessions). If it was never discussed but was implied, you’ll need to give a high and a low estimate on what you could have reasonably received based on your knowledge of the estate. If this amount doesn’t cover your legal fees, forget it. You may even walk away, if it’s twice as much as the retainer, because some estate battles cost more in legal fees than the inheritance. Again, consider this carefully.

The person who creates the will has the final word on who is and who is not in the will. If you have reason to believe that the will has changed, maybe because the person was under duress or suffering from diminished mental capacity, you can try to find out the details. You can ask the executor for the current will, any previous versions and a list of assets.

A sharp executor will compare copies of the will and note any significant changes. Therefore, it’s possible that a notice from the executor will be your first signal that you were removed from the will. If you aren’t told before the will goes to probate, you’ll be able to get a copy from the probate court. In addition, you’ll be told how long you have to contest the will. Each state has different rules and time limits, so ask a local estate planning attorney to help you get the copy and file the contest.

To contest the will, you need a valid reason. You need to reasonably prove that the testator lacked the mental capacity to understand what he was doing when the current will was signed, was pressured into changing it or that the will fails to meet state requirements and isn’t legal.

Your attorney will honestly tell you if you have a winnable case on these grounds. If you don't have grounds, there’s still a chance you can make a claim on the estate. For instance, if you did unpaid work for the testator, you may be able to claim costs. Again, look at the value of the claim versus the costs of moving forward.

With sufficient grounds, your attorney will file a contest against the will with the objective of invalidating the current will and enforcing a previous will that lists you as a beneficiary. If you’ve been left out of several revisions of the will, your chances of winning the dispute will be less because multiple wills must be invalidated. The burden of proof is on you, so be ready for a tough fight.

Instead of a court battle that will deplete your finances and those of the estate in legal costs, your attorney may be able to get the estate to agree to mediation. Mediation may be a better and faster resolution than a lengthy court battle.

With all of this, take into account the emotional stress. Being left out of a will is a bitter pill to swallow, but wasting time, money, and effort with heaps of stress fighting a losing battle will be much worse.

12/12/2018

“Stan Lee, the co-creator of superheroes including Captain America and Spider-Man, left this universe with a long list of unfortunate events, and not even the Avengers can help with this one.”

The 95-year-old former Marvel Comics publisher and chairman, Stan Lee, was ill for the last year. He was survived by his 68-year-old daughter J.C. and had other challenges in the past few years, in addition to ill health: his wife of nearly 70 years died in July 2017, and earlier in 2018, Lee was accused of sexually harassing nurses and home aides. He also said that $1.4 million dollars went missing from his bank accounts. Lee said that $850,000 of the stolen money was used to purchase a condo.

“I learned later on in life, you need advisors, if you’re making any money at all,” he told the Daily Beast in a 2018 interview. He also remarked that he’d done much of his own money management at the start of his career.

“But then, a little money started coming in, and I realized I needed help. And I needed people I could trust. And I had made some big mistakes. And my first bunch of people were people that I shouldn’t have trusted.”

It’s not known at this point, if Lee had a will or any trusts in place. If he did not, then he’s joining other late celebrities like performers Aretha Franklin and Prince who failed to draft these documents. As a result, their heirs and potential beneficiaries have had to go to court to straighten things out.

Keeping track of an estate plan can become harder as a person ages because he or she could suffer cognitive decline, or a professional or family member may think he or she is suffering from this. Stan Lee was the subject of this type of inquiry: in February, he signed a document declaring that his daughter spent too much money, yelled at him, and befriended three men who wanted to take advantage of him, the Hollywood Reporter reported. However, a few days later, Lee took it back.

Seniors can become get less confident in what they’re doing, and they are more susceptible to the influence of others, who may not have the best of intentions. However, you can easily create an estate plan with which you’re comfortable, with the help of an experienced estate planning attorney.

A big rat’s nest that will need to be addressed by Lee’s daughter, will be dealing with the many business documents that may be floating around from his current and past business managers and attorneys. To avoid this, work with an estate planning attorney and ask some specific questions, such as:

How do we organize and simplify my assets?

Will we need a trust, and how will they be managed?

How will you coordinate with my executor and/or attorney-in-fact while I’m well, and after I’m sick or gone?

How do you determine cognitive decline in an individual? What would you do, if you believed my ability to answer questions and manage my funds was diminished? What would you do once you’ve made this decision?

How often will we review my beneficiary designations and estate planning documents?

Do you work with a team of professionals, like a CPA?

When should we include my family members or other beneficiaries in our conversations?

10/02/2018

“According to a caring.com survey, only 42 percent of U.S. adults have estate planning documents, including a will.”

Like many Americans, Aretha Franklin failed to draft a will. More than 58% of us are in the same boat: no will or estate planning documents, leaving our families and heirs in peril. The Chicago Tribune’s recent article, “Don't leave a mess for your heirs” reports that, what’s even more troubling, is the fact that for those with children under the age of 18, just 36% have an end-of-life plan in place.

Many of those who haven’t done any estate planning, say they just haven't gotten around to it. That’s understandable, but it’s important that you conquer your anxieties associated with this emotional subject and take control.

For Aretha Franklin's estate, Michigan (her state of residence) will decide who will get what. The local probate court will oversee everything from property, retirement accounts and the residuals that flow from her music catalog. It’s possible that her assets will be split among her four children. However, as many parents know, some kids are more prepared to manage financial distributions than others—a big reason why estate planning is so important.

If you have property you want to go to specific individuals, you should create a document with instructions as to who gets what.

Some people think that because they don't have a high net worth, they don’t need to worry about such things. However, estate planning isn’t just about money—anyone with young children should have a will, because a will names the guardians of minor children. You want to be certain that you, and not the courts, designate your children’s guardians.

When you’re ready to start or revisit the planning process, talk to a qualified estate attorney (yes, pay for a lawyer and don’t do it yourself), here are the basic documents to consider:

Will: A document that makes certain your assets are passed to designated beneficiaries in accordance with your instructions. The will designates an executor, who will oversee the distribution of your assets. If you have minor children, you must name a guardian for them.

Letter of Instruction: This may include the appointment of someone who will ensure the proper disposition of your remains. That can be important, if you’re choosing a method that’s contrary to your family's traditions.

Power of Attorney: This gives a person you select the authority to act as your agent, in certain circumstances.

Health Care Proxy: This gives a person you select, the power to make health care decisions on your behalf, if you lose the ability to do so.

Trusts: Revocable (changeable) or irrevocable (not-changeable) trusts may be useful, depending on family and tax situations. You need an experienced trust attorney to help you decide, if this is a sound strategy and to properly prepare the documents.

08/13/2018

“When do you get to a point where you are no longer able to take care of your financial affairs?”

Last month, Buzz Aldrin filed a lawsuit against his son Andy and his daughter Jan. The former NASA astronaut and second man to walk on the moon accused his children and his longtime manager Christina Korp of taking control of his credit cards, using his money for their own gain, undermining his romantic relationships and slandering him by telling others he has dementia and Alzheimer’s disease. The suit was filed in Florida state court and alleges fraud, conspiracy and exploitation of the elderly.

The 88-year-old astronaut’s lawsuit illustrates the reason it's important for families to plan ahead for an aging parent. However, cases like Aldrin's can be hard, because it can be difficult to determine when someone has a deteriorating mental capacity, explains Good 4 Utah in the recent article,“Buzz Aldrin lawsuit shows need to plan for aging parents.”

Aldrin's children deny the claims in the lawsuit, which was filed just weeks after they petitioned for partial guardianship over their father.

An elderly person who doesn't think they need a guardian should contest it. If someone brings a guardianship case against an elderly person who believes he still has capacity, then that senior shouldn't be afraid to push back.

In Utah, any elderly person who’s being partitioned for guardianship must be given an attorney to make certain their rights are being protected. If you have a plan in place regarding your choice of guardian, it can help.

It's critical to be prepared, so have your planning in place. Consider carefully who you want to take responsibility, if you can't take care of business and document it properly.

Elder law attorneys suggest getting a third party to take guardianship, if you have multiple children. This is because they frequently tend to fight over the parent's care.

Elder law attorneys offer services to help people get the documents needed to take care of guardianship and planning.

08/03/2018

“Apollo 11 moon-walker Buzz Aldrin is suing two of his children and a former business manager, accusing them of misusing his credit cards, transferring money from an account and slandering him by saying he has dementia.”

Buzz Aldrin, the second man to step on the moon, filed a lawsuit in June in Florida, a week after his children Andrew and Janice filed a petition claiming their father was suffering from memory loss, delusions, paranoia and confusion.

Stuff says in a recent article, “Buzz Aldrin sues children, alleging misuse of his finances,” that the two children requested that the judge name them his legal guardians. They said Buzz was associating with new friends who were trying to alienate him from his family and that he had been spending his assets at "an alarming rate.''

The 88-year-old Aldrin underwent his own mental evaluation that was conducted by a geriatric psychiatrist at UCLA last April. The doctor said Aldrin scored "superior to normal'' for his age on tests.

"I also believe that he is perfectly capable of providing for his physical health needs, food, clothing and shelter, and is substantially able to manage his finances and resist fraud and undue influence,'' said Dr. James Spar in a letter to Aldrin's attorney.

Aldrin asked a judge to remove Andrew from control of his financial affairs, social media accounts and several nonprofit and business enterprises. Andrew was a trustee of his father's trust. Buzz said in the complaint that despite revoking the power of attorney he had given his son, Andrew continued making financial decisions for him.

"Specifically, defendant Andrew Aldrin, as trustee, does not inform plaintiff of pending or future business transactions, removes large sums of monies from plaintiff’s accounts and continues to represent plaintiff in business and social capacities, despite plaintiff's repeated requests for such representations to be terminated,'' the lawsuit said.

In his complaint, Aldrin accused Janice of not acting in his financial interests and conspiracy. Buzz also accused his former manager, Christina Korp, of fraud, exploitation of the elderly and unjust enrichment. Several businesses and foundations operated by the family are also named in the lawsuit.

Buzz Aldrin was a member of the Apollo 11 crew that landed the first two people on the moon. Aldrin joined Neil Armstrong on the lunar surface in July 1969.

Financial implications are probably not at the top of the list for gay couples deciding to marry. However, there are several to consider. Some may not be beneficial, but some are. The most significant issues for married gay couples, like married straight couples, should be retirement planning, estate planning and tax planning.

The major benefit for gay couples marrying is the survivor’s Social Security benefits. If you’re lucky enough to have a retirement plan where there is a pension benefit, it can be transferred from spouse to spouse. The other big issue is gifting: spouses can leave an unlimited amount of money between spouses. But if you’re not married, that doesn’t happen.

A major difference in what each partner makes can gum up the works, especially with the IRS. Consider the marriage penalty tax and figure out if you’re better off being married or not being married. You could be subject to not getting some of the tax exclusions that would’ve worked to your advantage, if you weren’t married. This is especially true, if there is a wide variance in income between both partners. You should also think about loss-limit deductions on things such as investment property, IRA and retirement account deductions, and other tax planning situations that can become significant considerations, when one partner earns much more than the other.

When combining the income of the two spouses, it may put them both into a higher tax bracket. This will add more tax liabilities. You should also think about homeownership and retirement. For unmarried gay couples with a big variance in incomes who own their home as joint tenants with right of survivorship, the surviving individual will get the house when the first one passes away. However, there could be some gift consequences, depending on how the money went into paying for the house and who put more money into it versus who didn’t.

There are also retirement accounts to look at. Married couples can pass IRAs or 401(k)s to one another at death, without triggering taxes. If you die with money in your retirement accounts, the IRS starts taxing that money as soon as your beneficiaries withdraw the money. It also forces a withdrawal within a certain amount of time. However, there’s an exception for distributions to spouses, allowing the money to keep growing tax deferred.

You should also analyze health care. Many businesses offer health care coverage to their employees’ domestic partners. Depending on company policy for family coverage, legal marriage ensures it. There’s also a financial benefit for surviving spouses in a health saving account because that money can be transferred to the surviving spouse. Likewise, a married couple in a joint health savings account can contribute more pretax dollars.

All married couples also legally speak for each other in terms of medical decisions. Unmarried couples, either straight or gay, don’t automatically have that legal representation. For gay couples who opt not to marry, that can be solved with a medical power of attorney, an advanced medical directive or health care proxy. These legally binding documents should be drafted, certified and available, in the event of an emergency. A power of attorney can cover both health care and financial decisions, if one unmarried partner becomes incapacitated.

One size most definitely doesn’t fit all gay couples, when it comes to the financial implications of marriage. The best advice for gay couples planning to wed is to get professional advice. Talking to a qualified estate planning attorney isn’t costly, and understanding what to expect before saying “I do” can eliminate some surprises.